Business, 06.05.2020 05:23 tdluong157

Biwei’s Barbershop is a business in a perfectly competitive market with total cost of TC = 0.5Q 2 per day. The corresponding marginal cost is MC=Q. Assume that the market price of a haircut is $15.

How many haircuts should Biwei give each day if he wants to maximize his profit? What is the profit?

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Biwei’s Barbershop is a business in a perfectly competitive market with total cost of TC = 0.5Q 2 pe...